Agri futures are down due to start of the harvesting season as well as tracking the fall on international markets.
The October contract of refined soy oil on National Commodity & Derivatives Exchange has witnessed a fall of 3.3% tracking the fall of palm oil and soy bean on international exchanges.
Near month contract of soybean is down by 1.5% to Rs 3,400 per quintal.
Pepper has hit the 4% lower circuit and jeera is down by 1.5% to Rs 13,440 per quintal as demand is not coming in at higher levels.
"Fall in agri commodities on the futures platform is triggered due to an improvement in weather conditions coupled with the onset of harvest season for the kharif crop ,” said Vedika Narvekar, research analyst at Angel Broking, a Mumbai based broking firm.
Cotton has also witnessed a fall of 2.5% to Rs 865 per bale on the futures platform due to revival in rainfall in major crop growing areas.
According to market sources, there is a possibility that cotton production will go up in Gujarat, which the largest producer of the commodity.
